When you have a Financial need, one easy way to fulfill it is to take a Mortgage Loan against your property. This gives you the flexibility of getting finances in place rapidly, without exposing yourself to the risks of high-interest Personal Loans. Besides, property Mortgage Loans give you the advantage of raising large amounts in a relatively short period of time, since Banks consider the market value of the property while calculating the amount of Loan eligibility.
Ideal for purposes like meeting short-term finance needs, raising working capital for projects, meeting expenses for marriages or education, home renovation, or even debt reconciliation, Mortgage Loans can be availed by salaried/professional individuals, NRIs as well as Businesses - both residential as well as commercial property can be mortgaged.
In the past decade, we have been instrumental in helping our Customers from all walks of life mortgage property securely, to meet their Financial needs.We have proven to be best Mortgage Loan Providers in Pune.
NRI's Mortgage Loan F.A.Q
NRI's Mortgage Loan Frequently Asked Questions
What is Loan Against Property ?
The word Loan Against Property means when you apply for a loan against already owned residential or commercial property & end use of the fund could be investment in business, renovation of property, extension of property, education expenses or a foreign trip etc…
Can I get an in-principle / Pre-Approval Letter and actually avail of the loan later ?
Surly, In-principle / Pre-Approval letter can be issued to you based on your income. After receiving letter you can plan your budget for property.
What is the validity of this letter ?
Validity of an In-principle / Pre-Approval letter varies from 30 days to 90 days, depending upon bank to bank.
What are the time line to process a loan application ?
In Retail loans 7 working days once documentations are completed
Is it possible to apply jointly with spouse or other blood relative?
Surly joint application can be processed but decision varies bank to bank.
What security do I have to furnish?
Since this is a housing loan thus bank requires a mortgage of the property for which the loan is being taken.
What are the processing fees charged by the bank?
Processing fee in housing loan varies bank to bank, normally it's start from 5000.00 to 0.50% of loan amount.?
What Is EMI?
EMI stands for Equated Monthly Installments. This installment comprises both principal and interest components. EMI is based on the loan amount, rate of interest and the repayment period.
How much is the loan tenure?
In Home Loan bank do offer loan from 5 yrs to 30 yrs which varies bank to bank & age of the borrower.